This startup helps in Supply Chain Traceability with sharing loyalties and affirming anti counterfeit products – GenuineMark by Genefied

• BySheetal Sidhu     |    August 16, 2021

“To win the game, just remain in the game, ” said Ayush, further adding that people give up but consistency is the key to win the ultimate game. Ayush Jhawar, Founder, GenuineMark by Genefied  in an elaborate and engaging interview with Startup Story.

 

About The Founder

Ayush completed his schooling from B.K Birla Pune and later went to complete his graduation to Lancaster, his experience studying away from home were some crucial years that shaped him. He was interested in various extracurricular activities throughout his time in school which he believes somewhere helped his creative side to develop. Going abroad helped him meet with people from different ethnicities and served the complete purpose of gaining exposure. On coming back Ayush tried engaging in the family business but couldn’t really relate much to it, he was more provoked by the idea of creating and building something of his own. In his view, Ayush believes that to become a first generation businessman and creating something from the ground to up is a whole new experience as compared to taking over a business. He wanted to learn things on his own and execute them his way. Further, he has always been interested in technology and has had keen interest in learning more about it ever since he was a child. His first venture was web shuttle which was subsequently shut down after three years after realizing that the business model was not the right one and required humongous effort to turn into profits. He then pivoted into supply chain traceability and slowed gained the market share with knowledge. Clients he said, were his biggest gurus.

Shaping His Own Career Path

Ayush told Startup story that he is a staunch believer of Gautama Buddha and is greatly inspired by his choice of leaving behind the wealth and luxuries to follow the path of enlightenment. For him entrepreneurship and the experience that brings with it altogether has been the path he chose to follow and pursue. He decided to go out there and work his way through and around things to achieve things the hard way. “Some lessons learned the hard way and being true to self rather than portraying someone else or their idea, he believes, are essential in the world together.”

GenuineMark Being Launched In The Market

Genuine Mark came into existence in the year 2018. When Ayush was looking into products and services that were more in demand and sought by the everyday consumer after his previous venture had to be halted. Narrating the episode that helped Ayush came across the core concept and idea of GenuineMark, Ayush told Startup Story that he and Kapil Malhotra, the Co-Founder came upon the idea after he raised the question about the originality of the product, protein being consumed regularly. He approached the Co-Founder with the same idea and both of them agreed that this was an emerging problem which needed attention and deserved to be resolved for the everyday consumer. Brands were having difficulty in connecting with their consumer and eradicating the problem of counterfeiting later also solving the problem of Supplychain traceability and loyalty management for them. The idea for GenuineMark by Genefied started out small but now the parent company of GenuineMark has now become the Genefied group as they have GenuineMark, Rewardify, SupplyBeam, HybridOcean as their flagship products. Genefied means “Gene – Modified” where they believe every product can be smart and exhibit their own trackable journey. They serve 10 different industries and that is how they have evolved on a whole in the art of traceability. They’ve received their largest orders from CEAT, Bisleri, Borosil, KOEL, KEI industries and have just felt the breeze of accomplishment. Now they cover various major brands including Varuna pumps, Lotus herbals, Baltra Appliances, UK rewards, Brutal Oils, etc.

Marketing Strategy And Concept Behind The Name

Ayush told Startup Story that following a niche that not a lot of brands are into which helps them enjoys an upper hand. He also loves competition and would like GenuineMark to turn into a top notch brand and competition he considers is important to help the knowledge about a particular product become known which in turn helps them while dealing or pitching the idea to brands. It becomes more convincing when there is competition, says Ayush. Two words constitute the complete name of the brand, where genuine is reflecting the authenticity of the product whereas mark signifies a check against the originality confirming the product.

Future Plans

As for funding, Ayush told Startup Story that they are not looking for another at the moment as they want to focus of reaching a goal of 10 CR of revenues this year. They are also planning on going global in the near future and are already working with some brands in Indonesia, USA, Egypt for the time being. He believes that the value being brought to the market and helping brands to ensure their consumers of their originality and product is the main reason GenuineMark stands out and also enjoy the attention from the brand’s.

 

Team And Setbacks Tackled

Having started out alone and doing everything on his own Ayush slowly built up a team of valuable people working with him.  Telling us more about the team he introduced Krishna Khandelwal (Senior Sales Manager) & Amit Gupta (Technical Lead) who have been key employees to help them reach where they are and continuously working hard to achieve more goals. Ayush told Startup Story that he has faced his share of tough times and rejection which he outgrew slowly as the trust and belief in his idea grew, with sheer hard work GenuineMark now looks at problems constructively growing through and with them.

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